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    PAVE

    U.S. Infrastructure Development ETF

    Invest in PAVE

    Reasons to Consider PAVE

    Compelling Need

    The American Society of Civil Engineers assigned a letter grade of C to the state of U.S. infrastructure in its 2025 report card, highlighting the need for investment.1

    Multiple Long-Term Catalysts

    America is committed to improving its aging infrastructure. The Infrastructure Investment and Jobs Act, Inflation Reduction Act, and CHIPS and Science Act appropriated nearly $1tn to fund critical infrastructure projects.2

    Unconstrained Approach

    As the economy evolves, so do infrastructure needs. PAVE seeks to capture this trend by investing in companies that are part of the infrastructure theme, regardless of sector or industry.

    1American Society of Engineers, Mar 20252Politico, 2024

    Key Information As of 04/30/26

    Inception Date 03/06/17
    Total Expense Ratio 0.47%
    Net Assets $13.36 billion
    NAV $56.83

    ETF Summary

    The Global X U.S. Infrastructure Development ETF (PAVE) seeks to invest in companies that stand to benefit from a potential increase in infrastructure activity in the United States, including those involved in the production of raw materials, heavy equipment, engineering, and construction.

    ETF Objective

    The Global X U.S. Infrastructure Development ETF (PAVE) seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the Indxx U.S. Infrastructure Development Index.

    Trading Details As of 04/30/26

    Ticker PAVE
    B3 Trading Code BPVE39
    Bloomberg Index Ticker IPAVE
    CUSIP 37954Y673
    ISIN US37954Y6730
    Primary Exchange Cboe BZX
    Shares Outstanding 235,120,000
    Number of Holdings 100
    30-Day Median Bid-Ask Spread 0.02%

    Distributions As of 04/30/26

    30-Day SEC Yield 0.48%
    Distribution Frequency Semi Annually
     Distribution History

    ETF Prices As of 04/30/26

    NAV $56.83 Daily Change $1.70 3.08%
    Market Price $56.79 Daily Change $1.66 3.01%

    Performance History

    Premium Discount Chart
    Cumulative Returns (as of 04/30/26)
    		1 Month 6 Months YTD 12 Months 24 Months Since Inception Inception Date
    Return PAVE 11.85% 18.02% 18.97% 49.38% 52.83% 302.37% 03/06/17
    Returns (as of 04/29/26)
    		Return PAVE Return Index
    Since Inception 290.33% 309.74%
    12 Months 37.56% 38.07%
    24 Months 47.97% 49.16%
    Last 60 Trading Days 9.48% 9.59%
    Last 75 Trading Days 12.52% 12.67%
    Monthly Returns (through 04/29/26)
    		Return PAVE Return Index
    Apr 2026 9.28% 9.36%
    Mar 2026 -7.74% -7.75%
    Feb 2026 8.58% 8.63%
    Jan 2026 6.20% 6.22%
    Dec 2025 0.94% 0.96%
    Nov 2025 0.56% 0.58%
    Oct 2025 1.28% 1.33%
    Sep 2025 2.48% 2.54%
    Aug 2025 1.77% 1.81%
    Jul 2025 4.84% 4.88%
    Jun 2025 5.25% 5.27%
    May 2025 8.11% 8.16%
    Apr 2025 1.84% 1.85%
    Mar 2025 -6.20% -6.17%
    Feb 2025 -5.01% -4.97%
    Jan 2025 4.64% 4.70%
    Dec 2024 -11.26% -11.22%
    Nov 2024 11.12% 11.19%
    Oct 2024 -0.05% -0.04%
    Sep 2024 4.42% 4.46%
    Aug 2024 -1.34% -1.35%
    Jul 2024 7.91% 8.00%
    Jun 2024 -4.38% -4.35%
    May 2024 3.28% 3.37%
    Apr 2024 -5.87% -5.85%

    Total returns take into account management, administration and fees and other costs automatically deducted from the fund's assets. Before investing, you may read the prospectus in the “FEES AND EXPENSES” section for more details.

    NAV & Index Chart

    Top Holdings As of 04/30/26

    Full Holdings (.csv)
    Net Assets (%) Ticker Name Country SEDOL Market Price ($) Shares Held Market Value ($)
    4.23 PWR QUANTA SERVICES INC United States 2150204 727.77 779,038 566,960,485.26
    3.53 ETN EATON CORP PLC United States B8KQN82 433.01 1,093,045 473,299,415.45
    3.46 CSX CSX CORP United States 2160753 45.43 10,196,536 463,228,630.48
    3.44 TT TRANE TECHNOLOGIES PLC United States BK9ZQ96 492.54 935,621 460,830,767.34
    3.17 UNP UNION PACIFIC CORP United States 2914734 269.48 1,576,684 424,884,804.32
    3.08 DE DEERE & CO United States 2261203 589.87 699,093 412,373,987.91
    3.04 HWM HOWMET AEROSPACE INC United States BKLJ8V2 243.04 1,677,484 407,695,711.36
    3.02 SRE SEMPRA United States 2138158 95.12 4,255,113 404,746,348.56
    2.98 NSC NORFOLK SOUTHERN CORP United States 2641894 315.83 1,262,925 398,869,602.75
    2.76 NUE NUCOR CORP United States 2651086 225.29 1,642,841 370,115,648.89
    2.74 URI UNITED RENTALS INC United States 2134781 959.84 381,867 366,531,221.28
    2.73 FAST FASTENAL CO United States 2332262 44.93 8,148,330 366,104,466.90
    2.63 PH PARKER HANNIFIN CORP United States 2671501 909.42 387,373 352,284,753.66
    2.62 ROK ROCKWELL AUTOMATION INC United States 2754060 408.91 858,365 350,994,032.15
    2.59 CRH CRH PLC United States B01ZKD6 118.42 2,933,354 347,367,780.68
    2.55 EMR EMERSON ELECTRIC CO United States 2313405 140.44 2,430,475 341,335,909.00
    2.14 EME EMCOR GROUP INC United States 2474164 891.67 322,068 287,178,373.56
    2.14 VMC VULCAN MATERIALS CO United States 2931205 301.74 949,256 286,428,505.44
    2.00 MLM MARTIN MARIETTA MATERIALS United States 2572079 619.07 432,263 267,601,055.41
    1.79 STLD STEEL DYNAMICS INC United States 2849472 228.66 1,048,990 239,862,053.40
    1.67 MTZ MASTEC INC United States 2155306 394.05 566,925 223,396,796.25
    1.59 AMRZ AMRIZE LTD United States BV5F675 53.78 3,971,470 213,585,656.60
    1.45 HUBB HUBBELL INC United States BDFG6S3 508.17 381,737 193,987,291.29
    1.16 WWD WOODWARD INC United States 2948089 362.99 430,019 156,092,596.81
    1.14 CRS CARPENTER TECHNOLOGY United States 2177504 428.20 357,849 153,230,941.80
    1.13 ATI ATI INC United States 2526117 155.46 975,976 151,725,228.96
    1.02 FTV FORTIVE CORP United States BYT3MK1 59.79 2,278,444 136,228,166.76
    1.02 RBC RBC BEARINGS INC United States B0GLYB5 599.09 227,437 136,255,232.33
    1.02 RS RELIANCE INC United States 2729068 362.50 375,159 135,995,137.50
    0.91 WCC WESCO INTERNATIONAL INC United States 2416973 349.12 349,688 122,083,074.56
    0.89 AA ALCOA CORP United States BYNF418 63.79 1,860,901 118,706,874.79
    0.87 IEX IDEX CORP United States 2456612 217.85 537,707 117,139,469.95
    0.86 TRMB TRIMBLE INC United States 2903958 67.32 1,705,378 114,806,046.96
    0.85 STRL STERLING INFRASTRUCTURE INC United States 2632876 515.62 220,470 113,678,741.40
    0.82 J JACOBS SOLUTIONS INC United States BNGC0D3 129.41 846,953 109,604,187.73
    0.81 MLI MUELLER INDUSTRIES INC United States 2609717 135.43 797,314 107,980,235.02
    0.80 CSL CARLISLE COS INC United States 2176318 355.26 300,458 106,740,709.08
    0.79 WLK WESTLAKE CORPORATION United States B01ZP20 115.28 921,667 106,249,771.76
    0.78 LECO LINCOLN ELECTRIC HOLDINGS United States 2516851 265.00 395,575 104,827,375.00
    0.76 RRX REGAL REXNORD CORP United States 2730082 215.03 476,885 102,544,581.55
    0.71 GGG GRACO INC United States 2380443 80.27 1,191,176 95,615,697.52
    0.71 PNR PENTAIR PLC United States BLS09M3 80.71 1,173,976 94,751,602.96
    0.70 RPM RPM INTERNATIONAL INC United States 2756174 101.89 919,410 93,678,684.90
    0.67 BLD TOPBUILD CORP United States BZ0P3W2 442.70 202,164 89,498,002.80
    0.64 DY DYCOM INDUSTRIES INC United States 2289841 414.10 208,215 86,221,831.50
    0.62 WMS ADVANCED DRAINAGE SYSTEMS IN United States BP7RS59 149.25 559,018 83,433,436.50
    0.59 ACM AECOM United States B1VZ431 84.10 946,104 79,567,346.40
    0.58 SPXC SPX TECHNOLOGIES INC United States BQ1L7V3 218.91 357,965 78,362,118.15
    0.55 CR CRANE CO United States BNYD4F8 177.73 414,356 73,643,491.88
    0.54 POWL POWELL INDUSTRIES INC United States 2697422 277.27 262,500 72,783,375.00
    0.54 VMI VALMONT INDUSTRIES United States 2926825 508.04 141,554 71,915,094.16
    0.52 PRIM PRIMORIS SERVICES CORP United States B1GC200 181.15 387,913 70,270,439.95
    0.50 AGX ARGAN INC United States 2804501 669.98 99,520 66,676,409.60
    0.49 LGN LEGENCE CORP-CL A United States BT6CC17 86.96 750,664 65,277,741.44
    0.47 AYI ACUITY INC United States 2818461 289.77 219,092 63,486,288.84
    0.47 BLDR BUILDERS FIRSTSOURCE INC United States B0BV2M7 79.09 794,825 62,862,709.25
    0.47 ZWS ZURN ELKAY WATER SOLUTIONS CORPORATION United States BMV1ZD3 51.96 1,201,452 62,427,445.92
    0.45 TTEK TETRA TECH INC United States 2883890 32.32 1,877,020 60,665,286.40
    0.44 MYRG MYR GROUP INC/DELAWARE United States B3CLS18 404.81 145,900 59,061,779.00
    0.44 ECG EVERUS CONSTRUCTION GROUP United States BSVLTM2 147.43 396,841 58,506,268.63
    0.41 CMC COMMERCIAL METALS CO United States 2213260 68.96 797,098 54,967,878.08
    0.41 CTOS CUSTOM TRUCK ONE SOURCE INC United States BL66YS4 9.85 5,516,822 54,340,696.70
    0.38 GRC GORMAN-RUPP CO United States 2379281 75.74 678,868 51,417,462.32
    0.38 NWPX NWPX INFRASTRUCTURE INC United States 2035925 98.34 523,593 51,490,135.62
    0.36 EXP EAGLE MATERIALS INC United States 2191399 210.11 230,629 48,457,459.19
    0.36 CTRI CENTURI HOLDINGS INC United States BMDPVF7 37.60 1,288,058 48,430,980.80
    0.36 PLPC PREFORMED LINE PRODUCTS CO United States 2798466 332.25 145,696 48,407,496.00
    0.36 ASTE ASTEC INDUSTRIES INC United States 2060370 65.02 733,424 47,687,228.48
    0.35 DXPE DXP ENTERPRISES INC United States 2276627 170.75 276,760 47,256,770.00
    0.34 TITN TITAN MACHINERY INC United States B29H3T5 20.91 2,177,123 45,523,641.93
    0.34 MTRN MATERION CORP United States 2149622 183.81 245,165 45,063,778.65
    0.34 CENX CENTURY ALUMINUM COMPANY United States 2186254 59.44 756,082 44,941,514.08
    0.33 ACA ARCOSA INC United States BGPZ5W8 126.47 352,463 44,575,995.61
    0.33 KNF KNIFE RIVER CORP United States BPLL4V5 92.55 480,566 44,476,383.30
    0.33 TPC TUTOR PERINI CORP United States 2681760 92.92 475,471 44,180,765.32
    0.32 TRN TRINITY INDUSTRIES INC United States 2904627 32.61 1,322,427 43,124,344.47
    0.32 GVA GRANITE CONSTRUCTION INC United States 2381189 137.07 312,797 42,875,084.79
    0.32 ROAD CONSTRUCTION PARTNERS INC-A United States BDT5M66 123.66 344,826 42,641,183.16
    0.31 CLF CLEVELAND-CLIFFS INC United States BYVZ186 10.20 4,094,040 41,759,208.00
    0.30 MDU MDU RESOURCES GROUP INC United States 2547323 22.53 1,759,858 39,649,600.74
    0.29 ATKR ATKORE INC United States BDHF495 78.15 496,767 38,822,341.05
    0.29 MTX MINERALS TECHNOLOGIES INC United States 2595612 71.94 534,738 38,469,051.72
    0.28 MWA MUELLER WATER PRODUCTS INC-A United States B15RZR4 27.89 1,356,006 37,819,007.34
    0.28 TEX TEREX CORP United States 2884224 62.20 592,956 36,881,863.20
    0.27 LPX LOUISIANA-PACIFIC CORP United States 2535243 72.19 500,272 36,114,635.68
    0.26 TTAM TITAN AMERICA SA United States BNM4XQ7 16.49 2,140,908 35,303,572.92
    0.26 GBX GREENBRIER COMPANIES INC United States 2387530 49.12 715,799 35,160,046.88
    0.26 CSW CSW INDUSTRIALS INC United States BYQD1J6 291.20 119,842 34,897,990.40
    0.26 MTUS METALLUS INC United States BNBPMX1 19.24 1,787,370 34,388,998.80
    0.25 RYZ RYERSON HOLDING CORP United States B3TPPZ6 27.71 1,216,471 33,708,411.41
    0.25 DNOW DNOW INC United States BMH0MV1 13.49 2,488,636 33,571,699.64
    0.24 EXPO EXPONENT INC United States 2330318 66.89 484,009 32,375,362.01
    0.23 WNC WABASH NATIONAL CORP United States 2932048 8.69 3,528,880 30,665,967.20
    0.23 HRI HERC HOLDINGS INC United States BZBZ020 126.92 238,963 30,329,183.96
    0.22 USLM UNITED STATES LIME & MINERAL United States 2724115 107.67 278,917 30,030,993.39
    0.21 CALX CALIX INC United States B3S4L67 43.56 654,682 28,517,947.92
    0.21 IIIN INSTEEL INDUSTRIES INC United States 2325875 26.18 1,070,345 28,021,632.10
    0.21 ROCK GIBRALTAR INDUSTRIES INC United States 2369226 39.03 712,545 27,810,631.35
    0.20 CMCO COLUMBUS MCKINNON CORP/NY United States 2211071 15.38 1,717,946 26,422,009.48
    0.19 BMI BADGER METER INC United States 2069128 120.91 211,974 25,629,776.34
    0.08 CASH United States 1.00 10,183,868 10,183,868.20
    0.01 OTHER PAYABLE & RECEIVABLES United States 1.00 1,813,209 1,813,208.73
    Holdings are subject to change. "Cash" denotes U.S. dollars.

    Sector Breakdown As of 03/31/26

    Sector Weight (%)
    Industrials 71.9
    Materials 22.3
    Utilities 3.8
    Information Technology 1.4
    Consumer Discretionary 0.6

    Source: AltaVista Research, LLC

    ETF Characteristics As of 04/30/26

    Return on Equity 15.10%
    Weighted Avg. Market Cap 45,691 M
    2025 2026
    Price-to-earnings 30.86 25.58
    Price-to-book value 4.07 3.66

    Source: AltaVista Research, LLC

    ETF Risk Stats As of 03/31/26

    Versus Beta
    S&P 500 1.02
    MSCI EAFE 0.96
    MSCI Emg. Mkts 0.78
    Standard Deviation 20.70%

    Source: AltaVista Research, LLC

    ETF Documents

    TERMS OF USE

    Global X Brasil Gestora de Investimentos Ltda. (“Global X Brasil”) is an asset manager authorized by the Brazilian Securities and Exchange Commission (“CVM”), constituted in the form of CVM Resolution No. 21/2021. Investing involves risks. The material on this site is for informational purposes only and does not constitute investment advice, recommendation, offer or solicitation to buy or sell any securities, funds, or strategies to any person in any jurisdiction in which an offer, solicitation, purchase, or sale would be illegal under the securities laws of such jurisdiction. Opinions expressed here are subject to change without notice. Reliance upon the information contained in this material is at the sole discretion of the reader. No securities regulator has confirmed the accuracy of any information contained herein. Access to the information on this site or the use of the services or information provided herein is prohibited by any person or entity in any jurisdiction or country where such distribution or use is contrary to local law, rules, or regulation. Investment in index funds (ETFs) involves risks, including detachment from the benchmark index and related to the liquidity of shares in the secondary market. Investment funds managed by Global X Brasil use strategies that can result in significant equity losses for their quota holders. Global X Brasil, its partners and employees are exempt of responsibility for any damages resulting directly or indirectly from the use of the information contained on this website.

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